History
Upon George Hunter's death in 1950, 70 percent of the Coca-Cola Bottling Company stock went to the Foundation. This led to a probate law precedent-setting lawsuit when family members sued regarding the tax status of the donation. A 1952 court ruling stated that the Foundation did not have to pay death duties, which became the responsibility of the residuary estate. The ruling was upheld on appeal.
Read more about this topic: Benwood Foundation
Famous quotes containing the word history:
“Only the history of free peoples is worth our attention; the history of men under a despotism is merely a collection of anecdotes.”
—Sébastien-Roch Nicolas De Chamfort (1741–1794)
“The one duty we owe to history is to rewrite it.”
—Oscar Wilde (1854–1900)
“the future is simply nothing at all. Nothing has happened to the present by becoming past except that fresh slices of existence have been added to the total history of the world. The past is thus as real as the present.”
—Charlie Dunbar Broad (1887–1971)